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Posted Mon, 18 Nov 2024 19:00:15 GMT by parker1234
When determining whether you need to pay the High Income Child Benefit Charge (HICBC), are capital gains considered as part of your income? For example, if I earned £50,000 in 2023/24 and had capital gains of £5,000, would my adjusted net income be considered £55,000, or would it remain at £50,000, meaning I wouldn't have to pay the HICBC?
Posted Tue, 19 Nov 2024 10:23:29 GMT by HMRC Admin 34 Response
Hi,
Please refer to guidance at:
Personal Allowances: adjusted net income
Thank you
Posted Tue, 19 Nov 2024 10:54:34 GMT by parker1234
Thanks, after having taken a look I don't see any reference to capital gains so I assume its not. Also find some ofther reference here suggesting the same: https://community.hmrc.gov.uk/customerforums/sa/53df2d7a-b9af-ee11-a81c-6045bd0de7dd https://community.hmrc.gov.uk/customerforums/pt/37a15623-22d6-ee11-a81c-0022481aac05#:~:text=Capital%20gains%20are%20not%20included,dividend%20income%20are%20included%2C%20however. https://community.hmrc.gov.uk/customerforums/sa/53df2d7a-b9af-ee11-a81c-6045bd0de7dd#:~:text=The%20capital%20gains%20income%20will,HICBC. https://taxscape.deloitte.com/article/tax-charge-on-child-benefit.aspx

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